StockRank Reviews

In 2014, Tom Kirby, the chairman of Games Workshop, told shareholders that it had been “a really good year” for the company. But the boss of the fantasy games and miniatures maker warned:

“If your measure of ‘good’ is the current financial year’s numbers, you may not agree. But if your measure is the long-term survivability of a great cash generating business that still has a lot of potential growth, then you will agree.”

In a way, Kirby’s comment underlined a question that’s nagged investors in Games Workshop in recent years. Is it a niche retailer in a…